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MARCH 2020 QUARTERLY REPORT 1 | P a g e
MARCH 2020 QUARTERLY REPORT 28 April 2020
LEGEND MINING LIMITED
ASX Symbol: LEG
ABN 22 060 966 145
Level 1, 8 Kings Park Road
West Perth
Western Australia 6005
PO Box 626
West Perth
Western Australia 6872
Phone: +61 8 9212 0600
Facsimile: +61 8 9212 0611
Email:
legend@legendmining.com.au
Website:
www.legendmining.com.au
CONTACT
Mr Mark Wilson
Managing Director
Mr Derek Waterfield
Executive Director Technical
PROJECTS
Rockford - Fraser Range: Nickel-Copper (Ni-Cu) Copper-Zinc-Silver (Cu-Zn-Ag) Gold (Au)
HIGHLIGHTS – Rockford Project, Fraser Range
• Diamond and aircore drilling commenced for 2020 with
spectacular results immediately
• RKDD008 – 41.5m of nickel-copper sulphides including
25m of massive sulphide, assays received with peak
values of 3.03%Ni, 3.86%Cu, 0.16%Co
• RKDD010 – Great platform for downhole EM
• RKDD011 – 36.6m of nickel-copper sulphides including
combined 12.4m of massive sulphide – assays awaited
OVERVIEW
The March 2020 quarter has produced spectacular exploration
results from our Mawson prospect which has in turn produced
significant appreciation in the Legend share price.
The widths and the grades of the nickel-copper sulphide intercepts
in hole RKDD008 are material and whilst assays are awaited from
hole RKDD011, the same can be said of the widths of the intercepts.
The clear focus for the June 2020 quarter is the continued roll out of
our successful methodology of drilling geological and geophysical
targets, assessing the results with structural logging and downhole
EM surveys, adjusting the 3D model of Mawson based on the new
information and then drilling the targets generated from this process.
This iterative process is designed to trace the known mineralisation
to its source, which current indications suggest is large and close
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MARCH 2020 QUARTERLY REPORT 2 | P a g e
1. ROCKFORD PROJECT (Fraser Range District)
Nickel-Copper, Copper-Zinc-Silver, Gold
Legend’s Rockford Project is located in the highly prospective Fraser Range district of Western
Australia and considered prospective for mineralisation styles including: magmatic nickel-copper,
VMS zinc-copper-silver and structurally controlled gold.
The Rockford Project comprises 14 contiguous granted exploration licences covering a total area of
3,088km2 (see Figure 1). A detailed breakdown of ownership, area and manager is given below:
• Legend (100%) 238km2
• Legend (70%)/Creasy Group (30%) two JVs covering 2,192 km2 with Legend manager
• IGO (60%)/Creasy Group (30%)/Legend (10% free carry) JV covering 634km2 with IGO manager
• IGO (70%)/Legend (30% free carry) JV covering 24km2 with IGO manager
Exploration activities completed during the March 2020 quarter at Rockford include: diamond drilling
and downhole electromagnetic (DHTEM) surveying at Mawson and the commencement of aircore
drilling at Mawson (see Figure 1).
Figure 1: Rockford Project with Current Prospect Locations
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MARCH 2020 QUARTERLY REPORT 3 | P a g e
Mawson Prospect
During the March 2020 quarter diamond drilling commenced at Mawson, and to date four holes
(RKDD008-011) for 1,578.4m have been completed (Figure 2 & Table 1). The initial drilling was
following up significant nickel-copper sulphide mineralisation intersected in drillhole RKDD007 (see
15 January 2020 ASX announcement) and anomalous nickel-copper geochemistry in previous aircore
drillholes. Subsequent drilling was following up massive sulphide mineralisation in RKDD008 and
targeting identified offhole downhole electromagnetic (DHTEM) conductors.
Figure 2: Mawson Diamond Drillhole Locations on Aeromagnetics
Table 1: Mawson Diamond Drillhole Details
Hole MGA94-East MGA94-North RL Azimuth Dip Total Depth
RKDD008 638,460 6,598,560 202 0900 -700 383.3
RKDD009 638,515 6,598,400 203 0900 -600 357.0
RKDD010 638,459 6,598,560 202 0900 -800 399.5
RKDD011 638,640 6,598,580 202 2700 -600 438.6
Total 1,578.4
RKDD008 – (Testing DHTEM Conductor from RKDD007)
Diamond drillhole RKDD008 was designed to test a strong 6,000-8,000S offhole conductor identified
by downhole electromagnetic (DHTEM) surveying in RKDD007 (see Figures 2 & 3). This offhole
feature was interpreted to represent the down plunge extension of significant nickel-copper sulphide
mineralisation previously identified in RKDD007 (14.9m @ 1.07% Ni, 0.75% Cu, 0.06% Co from
114m).
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RKDD008 intersected five significant intervals of nickel-copper sulphide mineralisation, three of which
comprise massive sulphides of pyrrhotite-chalcopyrite-pentlandite (see ASX announcement 31 March
2020). Results from these five intervals are summarised in Table 2 below, while individual sample
results from these intervals are provided in Appendix 1.
Table 2: RKDD008 – Assay Results from Five Sulphide Intervals
Hole From To Int Ni% Cu% Co% Sulphide Type
RKDD008 148 153.8 5.8 0.97 0.61 0.05 Heavy diss., semi-massive
RKDD008 153.8 164.2 10.4 1.32 1.11 0.07 Semi massive, diss., massive
RKDD008 199.4 205.0 5.6 2.85 1.86 0.15 Massive sulphide
RKDD008 218.2 225.1 6.9 2.55 1.67 0.14 Massive sulphide
RKDD008 234.9 247.7 12.8 2.76 1.36 0.14 Massive sulphide
RKDD008: 638,460E / 6,598,560N (GDA94 Zone 51), -700 / 0900
The individual assay values for nickel and cobalt, and to a lesser degree copper, are relatively
consistent throughout the massive sulphide intervals and reflects the uniform visual appearance of
the sulphides shown in the core photos (see Appendices 2-5).
A drill section showing the geology of RKDD008 along with the location of the five sulphide intervals
is shown below in Figure 3.
Figure 3: RKDD008 Drill Section 6,598,560N
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MARCH 2020 QUARTERLY REPORT 5 | P a g e
RKDD009 – (Testing anomalous aircore geochemistry)
RKDD009 was designed to test beneath aircore drillhole RKAC151 (which returned an intersection of
47m @ 0.30% Ni, 0.11% Cu from 64m to EOH, see Figure 2 & ASX announcement 11 December
2017). The hole intersected a thick olivine mafic/ultramafic intrusive containing sporadic minor
disseminated sulphide throughout, with the sulphide content increasing locally to heavy disseminated
and minor semi-massive near the basal contact with footwall metasediments.
DHTEM surveying of RKDD009 did not identify any inhole features, however defined a moderate
1,000-1,500S offhole conductor, which is yet to be tested.
RKDD010 – (Testing Ni-Cu sulphides in RKDD008)
RKDD010 was drilled directly below RKDD008 targeting a position approximately 40m down-dip and
to the west of the RKDD008 massive sulphide intersections (see Figures 2 & 4). The hole intersected
minor brecciated sulphide mineralisation between 161.0-162.9m which correlates with the upper
sulphide zone of RKDD008, but did not intersect massive sulphides at depth.
Critically however, RKDD010 provided a good platform for DHTEM defining a strong 50,000-60,000S
offhole conductor which was targeted in RKDD011 and intersected the lower sulphide interval (see
section below). The DHTEM also identified an offhole response related to the upper sulphide interval
in RKDD011 (129.25-144.25m) and a third deeper offhole DTHEM response (7,500-10,000S) yet to
be tested.
RKDD011 – (Testing DHTEM in RKDD010 and extension of sulphides in RKDD007-008)
RKDD011 was designed to test a strong 50,000-60,000S DHTEM conductor identified from surveying
in RKDD010 and also test for extensions to the sulphide mineralisation intersected in adjacent
drillholes RKDD007 and RKDD008 (see Figures 2 & 4).
RKDD011 intersected two broad intervals of nickel-copper sulphide mineralisation. The upper interval
contains multiple thin/localised units of vein, breccia, disseminated and semi-massive sulphide hosted
in mafic/ultramafic intrusive, while the lower interval contains three intercepts of massive pyrrhotite-
chalcopyrite-pentlandite. These mineralised intervals are visually similar to those observed in
RKDD008. The two intervals have a combined downhole thickness of 36.6m, and are summarised
below.
Upper Interval
129.25-144.25 (15.0m): Vein, breccia, disseminated, semi-massive Ni-Cu sulphides
Hosted in mafic/ultramafic intrusive
Lower Interval
217.5-239.1m (21.6m): Contains three separate massive Ni-Cu sulphide units totalling 12.4m
(217.5-219.4m), (221.7-225.9m), (232.8-239.1m)
Remainder of interval contains a mixture of semi-massive, breccia
and vein sulphide, hosted in metasediment
Core photos of the lower interval highlighting the massive sulphide are provided in Appendix 6.
RKDD011 intersected an upper olivine mafic/ultramafic intrusive, then a thick metasedimentary unit
containing numerous noritic intrusives, before ending in a mixed suite of mafic intrusives (see Figure
4).
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MARCH 2020 QUARTERLY REPORT 6 | P a g e
Figure 4: Drill Section 6,598,560N with RKDD011 (projected 20m south onto section)
Sampling of the RKDD011 drill core for assay has not been undertaken at this stage and will be
completed immediately following detailed structural logging with assay results expected 2-3 weeks
later. DHTEM surveying with multiple loop configurations is planned to test for extensions to the
mineralisation and to assist future drillhole design.
Mawson Aircore Drilling
A 130 hole infill aircore drill programme commenced over selected areas at the Greater Mawson
prospect during the March 2020 quarter (see Figure 5). The holes are on a nominal 200m x 200m
grid and have been designed to give a better understanding of the geochemistry, rock type and depth
of cover in areas which have already produced modelled MLTEM conductors and/or anomalous
geochemistry from previous aircore programmes
To date, 27 holes for a total of 1,905m have been completed, with assay results from all holes pending.
Ultimately the results of this programme will be a valuable tool for prioritising and ranking future
diamond drill programmes.
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Figure 5: Greater Mawson Areas for Proposed Infill Aircore Drilling on Aeromagnetics
Future Programmes
• Detailed structural logging of RKDD009-011.
• Completion of RKDD011 DHTEM survey followed by interpretation of data.
• Integration of geological and geophysical data from diamond drillholes RKDD009-011 into the
Mawson 3D geological model.
• Diamond drilling continuing with the collaring of RKDD012 testing geological and DHTEM
geophysical targets (see Figure 2).
• Continue infill aircore drill programme across the greater Mawson area
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MARCH 2020 QUARTERLY REPORT 8 | P a g e
2. CORPORATE
Annual Report and Notice of Annual General Meeting
In March 2020, the Company released and sent to shareholders its Annual Report for the year ended
31 December 2019 and its Notice of Annual General Meeting.
In the Notice of Annual General Meeting the Company advised shareholders that the Annual General
Meeting will be held in compliance with the Australian government’s restrictions on public gatherings.
Due to the rapidly evolving COVID-19 situation, the Company strongly encouraged all shareholders
to vote by proxy rather than attend the meeting in person. Based on Australian government restrictions
on public gatherings at the date of this Quarterly Report, a very restricted number of shareholders
would be able to attend the Annual General Meeting in person. The Company advised shareholders
who wish to attend either as visitors only or voting participants at the Annual General Meeting that
they should contact the Company. The Company will send these shareholder further details to enable
them to attend. In addition, shareholders can also submit any questions in advance of the Annual
General Meeting by emailing the questions to the Company.
If the current arrangements with respect to the Annual General Meeting change, shareholders will be
updated via an ASX announcement which will also be posted on the Company’s website.
Jindal Receivable
Legend and Jindal agreed to a revised repayment schedule of the outstanding debt of A$2.25M during
the March 2020 quarter. This new schedule was interest only for the first half of calendar year 2020
with 3 payments of $750,000 plus interest in the second half. With India in lock down (currently until
3 May 2020), Legend intends to show continued patience on this matter.
Exercise of Options
Subsequent to the end of the March 2020 Quarter, 10 million 4 cent March 2021 unlisted options were
exercised by Musgrave Minerals Limited on 17 April 2020 adding $400,000 to the Company’s Cash
at Bank.
Change of Directors Interest
During March 2020, prior to the recommencement of drilling at Mawson, the Company’s Managing
Director, Mark Wilson, acquired 1,000,000 ordinary shares on market, increasing his relevant interest
in the Company to 129,748,200 ordinary shares, being a 5.45% interest in the Company.
Authorised by Mark Wilson, Managing Director.
Competent Person Statement The information in this report that relates to Exploration Results is based on information compiled by Mr Derek Waterfield, a Member of the Australian Institute of Geoscientists and a full time employee of Legend Mining Limited. Mr Waterfield has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Waterfield consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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MARCH 2020 QUARTERLY REPORT 9 | P a g e
The information in this report that relates to Legend’s Exploration Results is a compilation of previously released to ASX by Legend Mining (11 December 2017, 9 December 2019, 15, 23 & 30 January, 31 March, 21 & 22 April 2020) and Mr Derek Waterfield consents to the inclusion of these Results in this report. Mr Waterfield has advised that this consent remains in place for subsequent releases by Legend of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. Legend confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters in the market announcements continue to apply and have not materially changed. Legend confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. COVID-19 The Company has been proactively managing the potential impact of COVID-19 and has developed systems and policies to ensure the health and safety of our employees and contractors, and limiting the risk to our operations. These systems and policies have been developed in line with the formal guidance of State and Federal health authorities and with the assistance of our contractors. To ensure the health and wellbeing of our employees and contractors, the Company has implemented a range of measures to minimise the risk of infection and rate of transmission of COVID-19. These measures include employees and contractors completing a COVID-19 Exposure Questionnaire, increased hygiene practices, restrictions on non-essential travel, establishing strong infection control systems and protocols across the business and facilitating remote working arrangements, where practicable. The Company will continue to monitor the formal requirements and guidance of State and Federal health authorities, and act accordingly.
Visit www.legendmining.com.au for further information and announcements.
For more information:
Mr Mark Wilson Mr Derek Waterfield
Managing Director Executive Director - Technical
Ph: (08) 9212 0600 Ph: (08) 9212 0600
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MARCH 2020 QUARTERLY REPORT 10 | P a g e
Appendix 1: RKDD008 – Individual Assay Results from Five Sulphide Intervals
Hole From To Interval Ni % Cu % Co % Au ppb Pd ppb Pt ppb
RKDD008 148 149 1 0.66 0.42 0.04 33 59 2
RKDD008 149 150 1 0.62 0.59 0.04 30 38 2
RKDD008 150 151 1 0.68 0.46 0.04 23 35 2
RKDD008 151 152 1 1.48 0.80 0.08 69 73 2
RKDD008 152 153 1 1.28 0.63 0.07 38 64 1
RKDD008 153 153.8 0.8 1.11 0.78 0.06 113 119 2
RKDD008 153.8 155 1.2 1.34 1.40 0.08 197 114 61
RKDD008 155 156.1 1.1 2.13 1.62 0.12 105 118 4
RKDD008 156.1 157 0.9 1.77 1.00 0.10 73 108 11
RKDD008 157 157.9 0.9 0.54 0.36 0.03 94 34 21
RKDD008 157.9 158.5 0.6 1.09 0.84 0.06 89 70 7
RKDD008 158.5 159.6 1.1 1.65 1.00 0.09 73 163 7
RKDD008 159.6 160 0.4 1.12 0.87 0.06 49 73 72
RKDD008 160 161 1 0.47 0.51 0.03 162 41 127
RKDD008 161 161.9 0.9 0.73 0.93 0.04 295 42 171
RKDD008 161.9 163 1.1 1.42 1.83 0.08 184 73 15
RKDD008 163 164.2 1.2 1.72 1.33 0.09 204 63 3
RKDD008 199.4 200 0.6 2.62 3.86 0.14 339 152 3
RKDD008 200 201 1 2.96 1.28 0.16 28 123 3
RKDD008 201 202 1 2.79 3.08 0.15 46 146 3
RKDD008 202 203 1 2.98 0.44 0.16 17 118 3
RKDD008 203 204 1 2.91 0.25 0.15 15 108 3
RKDD008 204 205 1 2.76 3.05 0.14 79 164 4
RKDD008 218.2 219 0.8 2.83 1.96 0.15 157 138 3
RKDD008 219 220 1 2.90 1.28 0.15 34 73 3
RKDD008 220 221 1 2.89 0.93 0.15 22 66 3
RKDD008 221 222 1 2.69 2.11 0.14 47 77 3
RKDD008 222 223 1 2.69 3.54 0.14 88 97 5
RKDD008 223 224.1 1.1 2.81 1.11 0.15 41 100 3
RKDD008 224.1 224.6 0.5 0.18 0.17 0.01 162 46 4
RKDD008 224.6 225.1 0.5 2.00 1.56 0.10 233 134 5
RKDD008 234.9 236 1.1 2.26 2.16 0.12 89 108 4
RKDD008 236 237 1 2.93 1.12 0.15 27 126 3
RKDD008 237 238 1 2.70 1.63 0.14 41 110 4
RKDD008 238 239 1 2.79 1.64 0.14 49 92 4
RKDD008 239 240 1 3.03 0.93 0.16 34 101 4
RKDD008 240 241 1 2.86 0.25 0.15 16 89 5
RKDD008 241 242 1 2.78 1.41 0.15 162 159 5
RKDD008 242 243 1 2.76 1.51 0.15 27 100 5
RKDD008 243 244 1 2.66 1.74 0.14 38 119 5
RKDD008 244 245 1 2.83 1.15 0.15 78 123 6
RKDD008 245 246 1 2.77 1.98 0.14 79 116 4
RKDD008 246 247 1 2.79 0.40 0.14 24 98 4
RKDD008 247 247.7 0.7 2.82 1.77 0.15 28 115 5
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MARCH 2020 QUARTERLY REPORT 11 | P a g e
Appendix 2 – RKDD008 Sulphide Intervals 148.0-153.8m & 153.8-164.2m
(5.8m @ 0.97% Ni, 0.61% Cu, 0.05% Co and 10.4m @ 1.32% Ni, 1.11% Cu, 0.07% Co)
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MARCH 2020 QUARTERLY REPORT 12 | P a g e
Appendix 3 – RKDD008 Massive Sulphide Interval 199.4-205.0m
(5.6m @ 2.85% Ni, 1.86% Cu, 0.15% Co from 199.4m)
Appendix 4 – RKDD008 Massive Sulphide Interval 218.2-225.1m
(6.9m @ 2.55% Ni, 1.67% Cu, 0.14% Co from 218.2m)
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MARCH 2020 QUARTERLY REPORT 13 | P a g e
Appendix 5 – RKDD008 Massive Sulphide Interval 234.9-247.7m
(12.8m @ 2.76% Ni, 1.36% Cu, 0.14% Co from 234.9m)
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MARCH 2020 QUARTERLY REPORT 14 | P a g e
Appendix 6 – RKDD011 Lower Sulphide Interval 217.5 – 239.1m
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MARCH 2020 QUARTERLY REPORT 15 | P a g e
Appendix 7: Tenement Schedule as at 31 March 2020
Mining Tenements
Tenement
Reference
Location Interest at
beginning
of Quarter
Acquired /
Withdrawn
Interest at
end of
Quarter
Comments
E28/1716 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/1717 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/1718 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/1727 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/2188 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/2189 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/2190 Fraser Range, Western Australia 10% N/A 10% 10:60:30 JV
E28/2191 Fraser Range, Western Australia 10% N/A 10% 10:60:30 JV
E28/2192 Fraser Range, Western Australia 70% N/A 70% 70:30 JV
E28/2404 Fraser Range, Western Australia 100% N/A 100% 100% Legend
E28/2405 Fraser Range, Western Australia 100% N/A 100% 100% Legend
E28/2675 Fraser Range, Western Australia 30% N/A 30% 30:70 JV
E28/2676 Fraser Range, Western Australia 30% N/A 30% 30:70 JV
E28/2677 Fraser Range, Western Australia 30% N/A 30% 30:70 JV
Farm-In or Farm-Out Arrangements
Tenement Reference
Location Interest at beginning of Quarter
Acquired / Withdrawn
Interest at end of
Quarter
Comments
None N/A N/A N/A N/A N/A
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